XRP News Today: XRP Drops 4% Amid Weak Breakout and Lack of Momentum

XRP is experiencing renewed downward pressure amid declining momentum and a lack of reversal signals, raising concerns about the continuation of its correction phase. Over the past 24 hours, the token has dropped approximately 4%, currently trading at $3.1947 [1]. This decline follows a false breakout of the support level at $3.1618, a development that traders are interpreting as a sign of weakness rather than a potential reversal [2]. The absence of strong volume or clear directional movement has led market participants to expect a period of sideways trading between $3.00 and $3.20 in the coming week [1].

Traders are closely monitoring whether the daily bar will close favorably, which could trigger a bounce back toward the $3.25 zone. However, the ongoing consolidation suggests that neither bulls nor bears are currently in control. The broader market has shown bullish tendencies, yet XRP has failed to capitalize on this optimism, remaining below the critical $3.3338 level that had previously served as a key resistance point [2]. This has raised questions about the token’s ability to reestablish momentum in the near term.

Analysts have noted that the recent shift in ownership from short-term to long-term holders could indicate a deeper correction phase is underway. This trend, combined with a sharp decline in whale activity—a key barometer of institutional confidence—has further clouded the immediate outlook for XRP [1]. The reduced participation from large investors suggests that the market may lack the energy needed to push the token beyond its current range.

On the technical chart, XRP has shown limited conviction in either direction, reinforcing the expectation of continued consolidation. While it has briefly reclaimed some key levels, the lack of follow-through buying or selling pressure indicates the market remains undecided. Traders are advised to keep a close eye on key support and resistance levels as any breakout could provide a clearer indication of the next move [2].

XRP’s price trajectory is currently shaped by mixed on-chain indicators and a broader lack of catalysts. As long as this uncertainty persists, the token is expected to remain in a defined trading range, with minimal upside potential unless a significant market event or fundamental change occurs [1].

Source:

[1] https://www.mitrade.com/insights/news/live-news/article-3-1024798-20250808

[2] https://cryptoadventure.com/this-ripple-xrp-metric-flashes-critical-warning-sign/

[3] https://www.bitget.com/price/ripple/price-prediction